The tech giants are reportedly exploring a substantial offer of around $2 billion per year to Formula 1, potentially securing exclusive streaming rights for Apple. Apple’s CEO, Tim Cook, a motorsport enthusiast, has even participated in F1 events, raising the possibility of his presence at upcoming races in Austin or Las Vegas.

Apple is currently involved in producing a high-budget Formula 1 movie starring Brad Pitt, as well as a documentary featuring seven-time world champion Lewis Hamilton. The introduction of an Apple F1 subscription pass is expected, further expanding the company’s presence in the sports market, following its initial success with MLS.

However, obtaining global F1 rights may present a challenge due to existing contracts with broadcasters worldwide. Still, Apple could position itself to acquire these rights if they become available. As of now, ESPN holds the U.S. rights to F1 until 2025, with potential negotiations for a seven-year agreement starting from that year. Global rights might become accessible in 2029.